Secondary Interest definition
Examples of Secondary Interest in a sentence
If Assignee incurs any such liability, loss, cost, damage or expense, the amount thereof with interest thereon at the Secondary Interest Rate (as defined in the Note), shall be payable by Assignor immediately upon demand, shall be secured by the Deed of Trust, and shall be part of the Indebtedness; provided that if such amounts are paid within five business days after such demand, such amounts shall instead bear interest at the Interest Rate (as defined in the Note) in lieu of the Secondary Interest Rate.
Each Seller severally and not jointly hereby acknowledges and agrees that in addition to the transfer restrictions set forth in the Purchase Agreement by and among the Company, GSC Secondary Interest Fund, LLC, a Delaware limited liability company, and such Seller, dated as of December 12, 2006 (in the case of Messrs.
Trustor agrees that all sums expended by Trustee or Beneficiary pursuant to this paragraph, together with interest at the Secondary Interest Rate from the date of expenditure by Beneficiary, shall be added to the principal amount of the Indebtedness secured by the Loan Documents and this Deed of Trust and shall be payable by Trustor to beneficiary upon demand.
In the event of a merger in which the Bank is not the surviving entity, the rights of Secondary Interest Holders will be determined by the terms of the merger in accordance with applicable laws.
The Bank may require payment by the Secondary Interest Holder of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination or exchange of Secondary Participation Interests.
Furthermore, no Secondary Interest Holder shall have any preemptive rights with respect to any other issuance of Secondary Participation Interests or any other securities by the Bank.
UNIFORM COMPLEX INTEREST CREDIT RATE Secondary Interest Credit Rate.
To the extent that the surviving entity is the successor to the Bank's claims against the Government, the rights of Secondary Interest Holders shall be unchanged.
After deducting all costs, fees and expenses of Trustee and of this Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale in the following priority, to payment of: (i) first, all sums expended under the terms hereof, not then repaid, with accrued interest at the Secondary Interest Rate; (ii) second, all other sums then secured hereby; and (iii) the remainder, if any, to the person or persons legally entitled thereto.
If the Policy proceeds exceed the sum of the Recovery Amount and the Secondary Interest, the Employer shall be the direct beneficiary of any remaining proceeds of the Policy.